What best determines the price a price searcher will charge?
A) Reputation
B) Demand
C) Revenue
D) Cost
B
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To close a recessionary gap, the Fed ________ interest rates which ________ aggregate spending and ________ short-run equilibrium output.
A. reduces; increases; decreases B. raises; decreases; increases C. raises; decreases; decreases D. reduces; increases; increases
Explain how "learning by doing" and transportation costs each affect the long-run average cost curve
What will be an ideal response?
A demand curve is derived from
A) the production possibilities curve. B) consumer's income. C) a demand schedule. D) an equilibrium.
If the government increases the income tax rate:
A. disposable income decreases. B. disposable income increases. C. disposable income remains unaffected. D. total income increases.